Comments on: Friday Free-for-all! http://vancouvercondo.info/2008/06/friday-free-for-all-26.html Bubble? What Bubble? Fri, 21 Nov 2008 06:41:37 +0000 http://wordpress.org/?v=2.6.2 By: Patiently Waiting http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20825 Patiently Waiting Mon, 23 Jun 2008 20:30:28 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20825 Gregor's ideas are causing reactions (positive and negative) and are leading to debate. Few BC politicians are capable of this anymore.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20825">0</span> <small>(to vote for this comment, please visit the site)</small></p> Gregor’s ideas are causing reactions (positive and negative) and are leading to debate. Few BC politicians are capable of this anymore.

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]]> By: Anonymous http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20821 Anonymous Mon, 23 Jun 2008 20:03:19 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20821 Re: MLS#V708346 "100k+ price drop" ... I know that building - it's a co-op requiring 35% down w/ no rentals/pets/etc ... no wonder.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20821">0</span> <small>(to vote for this comment, please visit the site)</small></p> Re: MLS#V708346 “100k+ price drop” …

I know that building - it’s a co-op requiring 35% down w/ no rentals/pets/etc … no wonder.

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]]> By: Re-diculous http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20811 Re-diculous Mon, 23 Jun 2008 16:55:59 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20811 Here was my morning smile: Realtors enlisted in crime fight http://vancouver.24hrs.ca/News/2008/06/23/5957866-sun.html kinda like getting the fox to guard the chickens<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20811">0</span> <small>(to vote for this comment, please visit the site)</small></p> Here was my morning smile:

Realtors enlisted in crime fight
http://vancouver.24hrs.ca/News.....6-sun.html

kinda like getting the fox to guard the chickens

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]]> By: betamax http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20810 betamax Mon, 23 Jun 2008 16:47:43 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20810 <b>More demand for lumber upcoming, back to work for the forestry workers.</b> Keep dreaming. There's cut lumber stacked to the sky already in US lumberyards, as Canadian companies cut & exported like crazy the last couple of years to avoid (a)changes to softwood tariffs and (b)encroaching pine beetles. Forestry workers are already applying for $11/hr jobs at Home Hardware and Rona, and they'll be lucky to get them or to keep them when the recession/housing crash hits BC next year.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20810">0</span> <small>(to vote for this comment, please visit the site)</small></p> More demand for lumber upcoming, back to work for the forestry workers.

Keep dreaming. There’s cut lumber stacked to the sky already in US lumberyards, as Canadian companies cut & exported like crazy the last couple of years to avoid (a)changes to softwood tariffs and (b)encroaching pine beetles.

Forestry workers are already applying for $11/hr jobs at Home Hardware and Rona, and they’ll be lucky to get them or to keep them when the recession/housing crash hits BC next year.

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]]> By: arbitrage http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20809 arbitrage Mon, 23 Jun 2008 16:29:20 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20809 re: the article in the province - It sure feels like Derek Moscato just surfed the web for a couple hours and cranked that nugget out. I think he could have done a better explanation of why people (speculators/bulls/and bears) are against the tax - more than enough discussion was done here. Maybe he wasn't referencing this website. That 18000 empty condo number is still floating around - did bc hydro ever return with a real answer on that? The reporters are the one's who should really be chasing and referencing such info.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20809">0</span> <small>(to vote for this comment, please visit the site)</small></p> re: the article in the province - It sure feels like Derek Moscato just surfed the web for a couple hours and cranked that nugget out.
I think he could have done a better explanation of why people (speculators/bulls/and bears) are against the tax - more than enough discussion was done here.
Maybe he wasn’t referencing this website.
That 18000 empty condo number is still floating around - did bc hydro ever return with a real answer on that? The reporters are the one’s who should really be chasing and referencing such info.

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]]> By: umdesch4 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20808 umdesch4 Mon, 23 Jun 2008 15:20:36 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20808 Good, affordable sushi...I'm just saying...<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20808">0</span> <small>(to vote for this comment, please visit the site)</small></p> Good, affordable sushi…I’m just saying…

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]]> By: patriotz http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20807 patriotz Mon, 23 Jun 2008 14:54:40 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20807 <i>one that could sully the city’s reputation</i> Reputation for what exactly? Having the most overpriced real estate? I could do without that. Frankly IMHO the only positive aspects of Vancouver compared with other Canadian cities are the things neither government nor business have anything to do with - the mountains, sea, and mild weather. What other pluses are there exactly?<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20807">0</span> <small>(to vote for this comment, please visit the site)</small></p> one that could sully the city’s reputation

Reputation for what exactly? Having the most overpriced real estate? I could do without that.

Frankly IMHO the only positive aspects of Vancouver compared with other Canadian cities are the things neither government nor business have anything to do with - the mountains, sea, and mild weather. What other pluses are there exactly?

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]]> By: Vansanity http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20806 Vansanity Mon, 23 Jun 2008 14:37:17 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20806 The blog was mentioned in the paper again! Regarding Robertson's tax idea on empty homes. Here's the link: http://www.canada.com/theprovince/news/editorial/story.html?id=fe46d1ff-918e-406b-8c73-4c268b096acf Excerpt: "On some real-estate blogs and Internet forums, his plan has been panned by investors as everything from a 'desperate populist campaign promise' to 'one of the dumbest ideas ever.' While their tone might be unfairly harsh, they are right about one thing: This penalty against speculators represents another blatant tax grab -- one that could sully the city's reputation." Congratulations to all who voiced their opinion on this subject!<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20806">0</span> <small>(to vote for this comment, please visit the site)</small></p> The blog was mentioned in the paper again! Regarding Robertson’s tax idea on empty homes. Here’s the link:

http://www.canada.com/theprovi.....268b096acf

Excerpt:
“On some real-estate blogs and Internet forums, his plan has been panned by investors as everything from a ‘desperate populist campaign promise’ to ‘one of the dumbest ideas ever.’

While their tone might be unfairly harsh, they are right about one thing: This penalty against speculators represents another blatant tax grab — one that could sully the city’s reputation.”

Congratulations to all who voiced their opinion on this subject!

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]]> By: NETCOPS http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20802 NETCOPS Mon, 23 Jun 2008 14:13:59 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20802 Ouch comment#185 you were logged on to different forum buddy! This is vancouvercondo.info-Vancouver,B.C. definitley wrong forum to post,please go and find california wildfireblogs.net or sandiegodestroyedhomes.help Thanking you in advance NETCOPS<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20802">0</span> <small>(to vote for this comment, please visit the site)</small></p> Ouch comment#185 you were logged on to different forum buddy!
This is vancouvercondo.info-Vancouver,B.C. definitley wrong forum to post,please go and find california wildfireblogs.net or sandiegodestroyedhomes.help

Thanking you in advance
NETCOPS

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]]> By: patriotz http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20798 patriotz Mon, 23 Jun 2008 11:34:56 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20798 <i>I’m happy with all the forest fires in California and the flooding in the midwest, all those homes destroyed will need to be rebuilt</i> There are far more <b>vacant</b> houses in San Diego than were destroyed in the fires. And I don't expect any imminent construction boom in Des Moines, etc, either - there is a lot of excess inventory even in the midwest. Even if every house in those areas was rebuilt, it would still only be a blip. The US housing market is not going to turn around for 20 years. There are a lot of boomers sitting in big houses that are going to have to be sold over that time, and there is not going to be anyone around able to pay big money for them.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20798">0</span> <small>(to vote for this comment, please visit the site)</small></p> I’m happy with all the forest fires in California and the flooding in the midwest, all those homes destroyed will need to be rebuilt

There are far more vacant houses in San Diego than were destroyed in the fires. And I don’t expect any imminent construction boom in Des Moines, etc, either - there is a lot of excess inventory even in the midwest. Even if every house in those areas was rebuilt, it would still only be a blip.

The US housing market is not going to turn around for 20 years. There are a lot of boomers sitting in big houses that are going to have to be sold over that time, and there is not going to be anyone around able to pay big money for them.

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]]> By: Thums up2 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20788 Thums up2 Mon, 23 Jun 2008 07:11:47 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20788 "I never would have predicted–that we would have 4% unemployment, rising inflation and STILL have low interest rates. So that’s now lasted for 3 or 4 years" That's mean you were wrong for four consecutive years that's good enough to make atleast 80,000 buyers and sellers sit outside the market or send some of them out of city or gift them rental life forever because since than affordability eroded and market appreciated by almost 90%. Now if some one followed your recomendation in the past they must pay 90% extra to get in the market plus the commission they had to pay to realtors. "If we do see inflation high enough to deflate the real value of mortage debt, then we will see mortgage rates north of 8%. We’ll see what 8% mortgage rates do to the ‘building equity’ schtick." Based on your past performance of prediction and analysis your "if" and "then" can take for ever. means more will be priced out- so stop annoying to hard working people let them buy and let them become home owner.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20788">0</span> <small>(to vote for this comment, please visit the site)</small></p> “I never would have predicted–that we would have 4% unemployment, rising inflation and STILL have low interest rates. So that’s now lasted for 3 or 4 years”

That’s mean you were wrong for four consecutive years that’s good enough to make atleast 80,000 buyers and sellers sit outside the market or send some of them out of city or gift them rental life forever because since than affordability eroded and market appreciated by almost 90%.

Now if some one followed your recomendation in the past they must pay 90% extra to get in the market plus the commission they had to pay to realtors.

“If we do see inflation high enough to deflate the real value of mortage debt, then we will see mortgage rates north of 8%. We’ll see what 8% mortgage rates do to the ‘building equity’ schtick.”

Based on your past performance of prediction and analysis your “if” and “then” can take for ever.

means more will be priced out- so stop annoying to hard working people let them buy and let them become home owner.

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]]> By: romeojordan http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20787 romeojordan Mon, 23 Jun 2008 06:14:33 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20787 the bubble popped april 26th, 2008. i cannot think of one RATIONAL reason to purchase residential real estate TODAY.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20787">0</span> <small>(to vote for this comment, please visit the site)</small></p> the bubble popped april 26th, 2008.
i cannot think of one RATIONAL reason to purchase residential real estate TODAY.

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]]> By: Just saying http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20785 Just saying Mon, 23 Jun 2008 05:21:44 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20785 My opinion is that it is always a good time to buy if you: a.are rich; b. have so much money you don't care about depreciating assets ; c. are so rich you can weather any economic storm; d. like the place.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20785">0</span> <small>(to vote for this comment, please visit the site)</small></p> My opinion is that it is always a good time to buy if you: a.are rich; b. have so much money you don’t care about depreciating assets ; c. are so rich you can weather any economic storm; d. like the place.

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]]> By: Drachen http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20783 Drachen Mon, 23 Jun 2008 01:28:05 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20783 <b>FW</b> "...the demand for american cars isn’t there." The problem with your point is that "American" cars in Europe (for example) are made <b>in europe!</b><p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20783">0</span> <small>(to vote for this comment, please visit the site)</small></p> FW

“…the demand for american cars isn’t there.”

The problem with your point is that “American” cars in Europe (for example) are made in europe!

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]]> By: Hillary http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20781 Hillary Sun, 22 Jun 2008 23:38:35 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20781 No one is Hillary except me. I only lost because I'm a woman, and everyone felt it was time for a black man to have a turn. I'm not bitter though, I'm still worth millions, and have homes in multiple states. Unlike the bitter bears on here.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20781">0</span> <small>(to vote for this comment, please visit the site)</small></p> No one is Hillary except me. I only lost because I’m a woman, and everyone felt it was time for a black man to have a turn.
I’m not bitter though, I’m still worth millions, and have homes in multiple states. Unlike the bitter bears on here.

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]]> By: Anonymous http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20780 Anonymous Sun, 22 Jun 2008 22:56:28 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20780 Dave is Hillary. All of his methods and debate points were completely and utterly refuted and yet he keeps banging on long after he’s lost the debate he intentionally uses lies, misleading statistics and his methods of data interpretation are considered, “Voodoo Economics” by the economics community. I thought Hillary was an appropriate nickname at that point. Pretty sad. You guys are getting paranoid and looking weak. Sandbox too small?<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20780">0</span> <small>(to vote for this comment, please visit the site)</small></p> Dave is Hillary. All of his methods and debate points were completely and utterly refuted and yet he keeps banging on long after he’s lost the debate he intentionally uses lies, misleading statistics and his methods of data interpretation are considered, “Voodoo Economics” by the economics community. I thought Hillary was an appropriate nickname at that point.

Pretty sad. You guys are getting paranoid and looking weak. Sandbox too small?

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]]> By: FW http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20779 FW Sun, 22 Jun 2008 20:05:26 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20779 Only in things that have demand and are priced competitively, if there's isn't demand then their new reduced price doesn't matter. If you need to rebuild a home you need lumber, that demand is real and will be meet on the open market.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20779">0</span> <small>(to vote for this comment, please visit the site)</small></p> Only in things that have demand and are priced competitively, if there’s isn’t demand then their new reduced price doesn’t matter.
If you need to rebuild a home you need lumber, that demand is real and will be meet on the open market.

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]]> By: -A- http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20778 -A- Sun, 22 Jun 2008 19:20:44 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20778 FW are you trolling or, are you actually that stupid? US exports have in fact got a lift since their currency has gone down the tube.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20778">0</span> <small>(to vote for this comment, please visit the site)</small></p> FW are you trolling or, are you actually that stupid?

US exports have in fact got a lift since their currency has gone down the tube.

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]]> By: FW http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20777 FW Sun, 22 Jun 2008 19:12:52 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20777 Guess the world is out buying american cars since their dollar is 30% down from a couple of years ago. Ummm nope not the case as the demand for american cars isn't there.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20777">0</span> <small>(to vote for this comment, please visit the site)</small></p> Guess the world is out buying american cars since their dollar is 30% down from a couple of years ago. Ummm nope not the case as the demand for american cars isn’t there.

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]]> By: Anonymous http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20776 Anonymous Sun, 22 Jun 2008 19:04:56 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20776 "The companies are just no longer being subsidized by the low dollar." Which is why our mills shut down, where do you think the 20 % differance in cost to produce lumber comes from? The companies profit obviously thus only a 20% rollback in wages would brinfg it back to marketable. (Based on an 80 cent Canadian dollar which is the area that lumber companies could at least break even)<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20776">0</span> <small>(to vote for this comment, please visit the site)</small></p> “The companies are just no longer being subsidized by the low dollar.” Which is why our mills shut down, where do you think the 20 % differance in cost to produce lumber comes from? The companies profit obviously thus only a 20% rollback in wages would brinfg it back to marketable. (Based on an 80 cent Canadian dollar which is the area that lumber companies could at least break even)

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]]> By: FW http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20775 FW Sun, 22 Jun 2008 18:43:18 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20775 Canadian lumber has always been exported in US dollars, the high Canadian dollar doesn't increase the price we sell it for, the price is controlled by the market. The companies are just no longer being subsidized by the low dollar. WE have the most efficient mills in NA so they can still compete. The problem was a lack of demand, it's about to rebound very quickly. Watch.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20775">0</span> <small>(to vote for this comment, please visit the site)</small></p> Canadian lumber has always been exported in US dollars, the high Canadian dollar doesn’t increase the price we sell it for, the price is controlled by the market. The companies are just no longer being subsidized by the low dollar. WE have the most efficient mills in NA so they can still compete. The problem was a lack of demand, it’s about to rebound very quickly. Watch.

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]]> By: -A- http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20773 -A- Sun, 22 Jun 2008 18:20:28 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20773 "More demand for lumber upcoming, back to work for the forestry workers." No, it doen't workt that way, the high demand for Canadian lumber was because we had a 65 cent dollar.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20773">0</span> <small>(to vote for this comment, please visit the site)</small></p> “More demand for lumber upcoming, back to work for the forestry workers.”

No, it doen’t workt that way, the high demand for Canadian lumber was because we had a 65 cent dollar.

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]]> By: FW http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20772 FW Sun, 22 Jun 2008 18:01:50 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20772 I'm happy with all the forest fires in California and the flooding in the midwest, all those homes destroyed will need to be rebuilt. More demand for lumber upcoming, back to work for the forestry workers. This will be almost as good for the industry as the New Orleans hurricane was a couple of years ago. Hurricane season is still coming too so it can be a very good year after all.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20772">0</span> <small>(to vote for this comment, please visit the site)</small></p> I’m happy with all the forest fires in California and the flooding in the midwest, all those homes destroyed will need to be rebuilt. More demand for lumber upcoming, back to work for the forestry workers. This will be almost as good for the industry as the New Orleans hurricane was a couple of years ago. Hurricane season is still coming too so it can be a very good year after all.

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]]> By: blueskies http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20771 blueskies Sun, 22 Jun 2008 18:00:24 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20771 <i>We’ll see what 8% mortgage rates do to the ‘building equity’ schtick.</i> this is the disconnect that i see in dave's argument..... how to "build equity' after paying too much for a depreciating asset with borrowed money..... every month you lose $5000 while you are struggling to buy down your mortgage by $500... the only winners are the RE agent and the mortgage broker who 'snookered" you into the deal "now is good time to buy" indeed<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20771">0</span> <small>(to vote for this comment, please visit the site)</small></p> We’ll see what 8% mortgage rates do to the ‘building equity’ schtick.

this is the disconnect that i see in dave’s argument…..

how to “build equity’ after paying too
much for a depreciating asset with borrowed money…..

every month you lose $5000 while you are struggling to buy down your mortgage by $500…

the only winners are the RE agent and the mortgage broker who ’snookered” you into the deal

“now is good time to buy” indeed

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]]> By: Drachen http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20770 Drachen Sun, 22 Jun 2008 17:20:16 +0000 http://vancouvercondo.info/2008/06/friday-free-for-all-26.html#comment-20770 "Who’s Hillary?" Dave is Hillary. All of his methods and debate points were completely and utterly refuted and yet he keeps banging on long after he's lost the debate he intentionally uses lies, misleading statistics and his methods of data interpretation are considered, "Voodoo Economics" by the economics community. I thought Hillary was an appropriate nickname at that point.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-20770">0</span> <small>(to vote for this comment, please visit the site)</small></p> “Who’s Hillary?”

Dave is Hillary. All of his methods and debate points were completely and utterly refuted and yet he keeps banging on long after he’s lost the debate he intentionally uses lies, misleading statistics and his methods of data interpretation are considered, “Voodoo Economics” by the economics community. I thought Hillary was an appropriate nickname at that point.

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